From globalization to the proliferation of normative regimes

• Autor(a) principal: Albuquerque, Roberto de Araújo Chacon de
• Data de Publicação: 2009
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista Direito GV
• Texto Completo: https://periodicos.fgv.br/revdireitogv/article/view/24312
• topic: international financial crisis; financial market; hyperglobalization; normative regimes; CRISE FINANCEIRA INTERNACIONAL; MERCADO FINANCEIRO; HIPERGLOBALIZAÇÃO; REGIMES NORMATIVOS

This article analyzes the conflict between two proposals aiming at solving the international financial crisis that represent different economic and political traditions, the anglo-american and the franco-german ones. Washington and London propose to repair the effects of the international crisis, while Berlin and Paris suggest a new architecture for the financial market, with a central authority in charge of regulating and controlling it, with cession of sovereignty. These two proposals have been confronted at the last G-20 meeting that took place in London. More than seventy years ago, the London economic conference, which began on 12 June 1933, had as goal the adoption of measures against the great depression, by stimulating the international trade and stabilizing the foreign exchange market. The refusal to a central authority in charge of regulating and controlling the financial market favors the proliferation of normative regimes.